Over the past month, Atlanta’s rental market has experienced notable trends in rental prices, vacancy rates, and property availability.
Average Rental Prices
As of January 2025, the average rent in Atlanta stands at $2,000 per month, reflecting a slight decrease of $4 from the previous month and a year-over-year decline of $150. This positions Atlanta’s rental rates just below the national average of $2,005.
Vacancy Rates and Market Dynamics
The rental vacancy rate in Georgia was reported at 8.3% in 2023, ranking it 12th highest in the U.S. In the City of Atlanta, apartments remained vacant for an average of 44 days. This suggests a relatively balanced market, offering opportunities for both renters and landlords.
Market Trends and Projections
The Atlanta rental market has seen a surge in new apartment constructions, contributing to a moderation in rent increases. As of October 2024, the median asking rent for new leases was $1,550, slightly below the national median of $1,615. Despite this, renters continue to allocate a significant portion of their income to housing, and delays in home purchases are expected to sustain apartment demand, potentially leading to higher rents in the future.
In summary, Atlanta’s rental market over the past 30 days reflects a stable environment with slight decreases in average rents and moderate vacancy rates. The influx of new housing units has provided renters with more options, contributing to a balanced market dynamic.
